Bloomberg: Latest austerity package will either win debt relief or crush economy and lead to another Greek bailout

Bloomberg paints a “make or break” dilemma for Greece’s leftist government in the wake of the latest ratification of an austerity and reform-laced package on Thursday evening.

According to the international business and financial news network, either the reforms “will be key to winning debt relief that unleashes years of pent-up investment and finally ends its economic crisis. Or the austerity will crush the economy and send the government cap-in-hand for another bailout.”

Bloomberg also cited the fact that the crisis-battered Greek economy returned to a recession cycle over the first quarter of 2017, while quoting the head of the Athens-based Foundation for Economic and Industrial Research (IOBE), Nikos Vettas, who said:

“The Greek economy finds itself at a crucial crossroads … It’s roughly at the same level as three years ago, and while many forces that built a negative dynamic since the start of the crisis are now weaker, there is no guarantee it will enter a sustainable growth phase.”

Uncertainty over the financial future of Greek football giants Panathinaikos Athens continues, after Dimitris Giannakopoulos, the major shareholder and owner of the basketball team of Panathinaikos informed…

Uncertainty over the financial future of Greek football giants Panathinaikos Athens continues, after Dimitris Giannakopoulos, the major shareholder and owner of the basketball team of Panathinaikos informed…